twin aicpa confabs buzzing with tech talk

with almost 800 cpas converging on the bellagio in las vegas for the co-located 2010 practitioners symposium and tech+ conferences, technology issues are taking center stage.

tech+ chairman peyton burch says cpas are taking a serious look at software as a service, apple ipads, iphones and macbooks, and technology as a “competitive differentiator.”

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technology is overshadowing staffing as the central practice management issue this year at the aicpa practitioners symposium in las vegas, according to conference chairman mike shost.

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the conferences run through wednesday.

why do accountants blog, tweet, facebook, or get linkedin?

we want to find out from you!

attn: social media cpas, accountants, firms….

for a possible blog post:
— why do you do social media?
— how does it help business?
— what are the risks?
— why do firms block access, and is that a good idea?
— what are the long-term trend lines?

please email me at rickt@www.g005e.com or call 631-604-1651. or leave a comment below.

we’ll keep your answers anonymous if you want.

hey, and don’t forget about, texting, emailing, phoning, flickr and youtube, and even birthday cards — it’s all “social” and  “media,” right? what are we doing and why?

thanks! it’s the sharing and caring of this community that makes everything possible.

first, sell yourself. sales will follow.

charles h. green says: put your customers’ interests first and watch your sales increase.

people want to buy from those they trust. the best way to be trusted by your customers is simply to be worthy of their trust. be trustworthy. that means truth-telling and transparency. above all, a relentless focus on the best interests of your customers will earn their trust.

pick one of these simple ideas: read more →

too many accounting firms suffer for lack of skilled leaders, seven keys survey says

leadership and management skills are at a premium as we navigate through a recession and a period of unprecedented change.

but are accounting firms and finance organizations prepared?

the answer is: not all.

source: 卡塔尔世界杯常规比赛时间

a significant number of accountants are telling us that the leadership in their organization is less than top-notch. the data is coming from the seven keys cpa survey now in the field.

if you haven’t already, you can join the survey and get the results.

a full-length, 60-minute informational session is available from seven keys cpa on leadership and management for accounting firms. it delves into all the data, analyzes the results and provides actionable guidance for accounting firms of every size. available as a streaming webcast or audio podcast here.

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cpas, cfos: what do you stand for?

in a world where trust has been breeched and faith in iconic institutions has been broken, cpas in corporate finance may be uniquely positioned to help heal the system and restore a sense of integrity to business.

by rick telberg

objectivity, independence and integrity are among the sacred creed of the cpa profession. but never in recent memory has the word “integrity” been bandied about so much in the corporate suite as in these days after the great global financial meltdown.

if the renewed interest in “integrity” is genuine, then cpa finance managers and executives are well-positioned to help make positive change for their organizations and maybe even the public at large.

read more →

comments: ‘change is coming’ to internal audit

can no longer be passive.

joel c. font, cisa, author of today’s audit journal, comments on the scary new outlook for internal audit:

my view is that the role of internal audit will evolve away from the passivity that now characterizes it. not because the internal auditors are leading the charge, but because the politicians in washington and the crooks in wall street will force it on those who hire us. the politicians with their simple minded populism, and the crooks with the audacity of their schemes, which can not be hidden anymore in today’s hyper media environment.

read more →

hawaii cpa society welcomes new peer review law

“applauds” state legislature for over-riding veto to enact state’s first peer review mandates.

the new law requires for the first time that public accounting firms in hawaii undergo outside peer reviews on a regular basis for auditing and attestation work.

related:

“passage of the law is a significant reform that will aid in the reliability and availability of the best possible professional accounting services in hawaii,” said wendell lee, hawaii society of cpas president. “we are grateful for the hard work by state legislators to bring this reform to reality and look forward to working closely with the state board of accountancy to implement the new law.”

read more →

are you missing next big boom in accounting and finance?

ifrs represents a once-in-a-generation opportunity for accountants and the profession. some firms won’t be ready.

by rick telberg

many finance and accounting professionals, their firms and companies may be wasting a once-in-a-lifetime opportunity if they allow their capabilities to stagnate or their skills to go stale. take, for example, ifrs, short for international financial reporting standards.

in the latest stop-and-go story of the globalized rules, it’s, well, if not “stop,” then at least “maybe later than last we thought.” as a result, some firms and corporations are putting their ifrs hiring and training programs on hold.

but that’s a big mistake. for one thing, the worldwide demand for ifrs technicians will be “huge,” according to craig walker, accounting and finance practice director for the mergis recruiting agency. “bigger than sox,” he says, referring to the sarbanes-oxley act, which remapped the accounting and auditing landscape in 2002.

read more →

sec chief attacks three ifrs “myths”

defends “the vital but sometimes overlooked field of accounting.”

schapiro

pledging global accounting convergence — someday — sec chairman mary shapiro today sought to “re-affirm our dedication to developing a single set of high-quality, globally-accepted accounting standards.”

and she addressed three criticisms of the agency, which she called “myths:”

  • myth #1: the sec’s commitment to global accounting standards is not as strong as it should be.
  • myth #2: the u.s. may be committed, but it’s dragging its feet regarding adoption of ifrs.
  • myth#3: the united states is fixated on process.

for the details, here’s the full text of sec chairman mary l. schapiro’s  remarks at the cfa institute 2010 annual conference, boston, mass., via videoconference:

read more →

12 hot growth tips for cpa firms

four top experts lay out action plans.

by rick telberg

accountants and finance executives are finding a newly complex and competitive landscape that requires new strategies and determination, according to a sampling of leading experts.

bourke

james c. bourke, cpa.citp, partner at withumsmith+brown, tells me that “keeping competitive and profitable at the same time” is one of the three key challenges he sees facing accountants today.

in addition, he says, accounting and finance managers are struggling to keep “staff busy” and stay “on top of client confidentiality rules and regulations.” some 47 states have now passed privacy security rules that cpas need to understand, bourke says.

to be sure, the opportunities for accountants are just as broad as the challenges.

bourke sees potential leverage at firms that can: read more →

big firms exit hawaii market

locals gain strength.

grant thornton is selling its hawaii practice to two partners who are taking the new firm into the pkf network.

it’s the latest news from hawaii. a couple weeks ago we reported hawaii mandates peer review for out-of-state firms.

now, according to pacific business news:

grant thornton’s departure from the hawaii market mirrors that of pricewaterhousecoopers, a big four accounting firm that left hawaii in 2006 after 55 years and sold its local practice to three partners in the firm’s honolulu office, who formed a new firm called accuity llp. accuity, also locally owned, has been a member since 2007 of the baker tilly international network of accounting and consultancy firms. another local firm, kmh llp, was formed by former arthur andersen employees after the big five accounting firm collapsed during the enron accounting scandal.